Here are some patterns I see:Inverted Roof on the DIA (similar on the Q's), a measured move would put price back to the previous swing lows:
Previously the Dow Jones Transportation Index (IYT here as a proxy) set up a bullish wolfe wave. However, it now looks to have formed a contrary wave with a potential target to at least $68.
IWM has a similar bearish wolfe wave structure at the moment
Speaking of Wolfe Waves, the last hour in the SPY saw a bearish wolfe wave take shape:
Although this bullish scenario is still in play for the SPY:
No comments:
Post a Comment